According to an analysis by Rubix Data Sciences, India’s merchandise trade with the G7 countries has recorded a healthy 13% compound annual growth rate (CAGR) since FY21, with a strong trade surplus of $28 billion in FY25.
The latest report reveals that smartphone and pharmaceutical exports are the primary drivers of this surge in bilateral trade. Rubix said trade ties with the G7, the United States, the United Kingdom, Germany, France, Italy, Canada, and Japan showcase the growing confidence of Indian industries in tapping into the world’s most advanced economies.
India’s bilateral goods trade with the G7 nations stood at $248 billion in FY25. Exports were valued at $138 billion and imports at $110 billion, resulting in a trade surplus of $28 billion. Notably, India sustained a trade surplus with four key bloc members: the U.S., the U.K., France, and Italy.
India’s top export categories are telecom transmission equipment, smartphones, and pharmaceutical products. Mobile phone exports across all markets saw a 55% year-on-year rise, reaching $24 billion in FY25. Meanwhile, the report said India continued to play a vital role in the global pharmaceutical supply chain, meeting more than 40% of the generic drug demand in the U.S. and 25% of the total pharmaceutical consumption in the U.K..
Over the last five years, India’s export share to G7 countries increased from 29% to 31%. At the same time, imports from these countries declined from 18% to 15%, signalling an improving trade position for India.
Mohan Ramaswamy, co-founder and CEO of Rubix Data Sciences, said the trade surplus with G7 countries reflects the growing global confidence in Indian industries, particularly MSMEs. He noted that Indian exports, from smartphones to life-saving medicines, are gaining trust and traction in mature markets.
Rubix Data Sciences, founded by experienced risk professionals, supports businesses in managing credit risk, building resilient supply chains, and monitoring compliance in India and globally.